BIG3 basketball league faces a lawsuit from NFT buyers alleging $40 million in franchise sales proceeded without distributing promised proceeds to token

In 2022, Big3 offered a set amount of NFTs fans could buy, which included voting rights toward team actions, VIP tickets to games, and more.

Investors who purchased BIG3 NFTs expected the perks of team ownership, but allege "deceptive, fraudulent" marketing was at play.